FY2012 Illinois

MBDA Helps Smart Medical Technology Secure $25 Million in Capital

Smart Medical Technology, Inc. (SMT) designs and manufactures medical and healthcare products that have impacted the evolution of healthcare services worldwide. Among its suite of products, SMT has patented, trademarked, and received Federal Drug Administration approval, and UL certification of its ground breaking lateral patient transfer system called the Liftaem™.

SMT came to the Chicago MBDA Business Center looking for capital and procurement opportunities and soon gained more than they expected. They attended a MBDA access to capital seminar on raising capital through private equity, including valuation and minority status considerations. Primed with information, SMT was ready to partner with the MBDA. MBDA worked with SMT to analyze offers from investment bankers, prepped the management team for presentations, and consulted throughout the fundraising process. As a result, SMT secured capital in the amount of $25 million. Their increased financing capabilities enabled them to purchase a new warehouse, create 300 jobs and retain 100 jobs.